Korean electronics giant Samsung on Tuesday denied reports that it had laid off 1,000 employees in India as part of a cost rationalisation programme. The consumer electronics major has lately had to slash prices of its smatphones and television sets amid stiff competition from Chinese rivals in India.
According to a report by the Economic Times, Samsung has 20,000 employees in India and several under-performers and those not delivering targeted results in their teams had been asked to leave. The ET report said manpower rationalisation exercise would encompass sales, marketing, R&D and manufacturing, as well as support functions like finance, human resources and corporate relations. The job cuts, accroding to the report was endorsed by Samsung’s headquarters in Seoul, with the